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On March 27, senior members of the Hogan Lovells Privacy and Cybersecurity practice will present a timely and practical webcast on how businesses can prepare for and address the risks of cybersecurity incidents in this time of high alert.

Almost daily, there are headlines about personal information held by businesses compromised through hacking or other cyber-incidents. The news stories that follow read like those after environmental accidents and describe the cleanup businesses have to do following data spills. There is damage to reputation and trust, and the direct and indirect costs of such breaches can be enormous. In addition, regulators and plaintiffs’ counsel are poised to pounce on businesses experiencing breaches as never before.

Even for businesses that previously have considered how to limit legal risks from data breaches, it is time to reevaluate and reassess. 2014 is a year of high alert, and recent changes to state breach notification laws—including an expansion of California’s data breach statute—may create additional risks for organizations that have not kept up with this evolving landscape. Other developments in the cybersecurity environment, such as the FTC’s proposal to review rules for safeguarding customer financial information under the Gramm-Leach-Bliley Act (GLBA), and the release of the NIST Cybersecurity Framework, could affect how regulators evaluate the adequacy and reasonableness of companies’ information security programs.

During this 60-minute interactive webcast, we will address how a business can respond to cybersecurity incidents effectively, in a way that complies with legal obligations and manages reputational issues.

The webcast will discuss:

Breach avoidance and documentation

Contracting to limit breach liability

Preparing a breach response plan

Legal compliance and risk mitigation following a breach

Developments in data breach notification statutory requirements

Preparing for potential litigation

The role of cyber-risk insurance

The trends in regulatory enforcement and how to steer clear of investigations